13:47 05/12/2017 MOSCOW, December 5 (RAPSI) The Moscow Commercial Court has declared Carlo Pazolini shoe retailers founder Ilya Reznik bankrupt, RAPSI has learnt in the court. A procedure of Rezniks property disposal has been commenced for a period of six months. On April 6, the court initiated the procedure of debt restructure against Reznik on…
KUALA LUMPUR: Only two out of the 2.8 million borrowers of the National Higher Education Fund Corporation (PTPTN) loans were declared bankrupt since the establishment of the institution in 1997. Its chairman, Datuk Dr Shamsul Anuar Nasarah, said the bankruptcy declaration had to be made after the borrowers failed to comply with the court decision.…
December 04, 2017 20:02 ET | Source: Quest Rare Minerals Ltd. MONTREAL, Quebec, Dec. 04, 2017 (GLOBE NEWSWIRE) — Quest Rare Minerals Ltd. (the “Company” or “Quest”) announced that on December 4, 2017, the Superior Court of Québec granted Quest Rare Minerals motion for an extension of the delay to file a…
The ICR intends to consolidate into a single case the two criminal cases over swindling on an especially large scale with the ex-banker as a defendant. December 4, the Moscow City Court is to consider an appeal against the arrest in absentia of Anatoly Motylev, former owner of the bankrupt Blobex, Rossiysky Kredit, M-Bank,…
A public-relations firm became the latest company to ask an Indian tribunal to place billionaire Anil Ambani-run Reliance Communications Ltd. under insolvency proceedings after the unprofitable mobile-phone operator failed to pay its dues. Fortuna Public Relations Pvt. placed its request with the Mumbai bench of National Company Law Tribunal on Monday, saying Reliance Communications owes it…
Reliance Group’s chairman Anil Ambani On November 24, China Development Bank (CDB) formally filed an insolvency petition against Reliance Communications at the National Company Law Tribunal in Mumbai. The company is believed to owe Rs130 billion ($2.01 billion) to Chinese lenders not just CDB (the lions share at Rs114.6 billion/$1.78 billion) but China Eximbank and…
HE HAS to stump up $1 million in the next week or face the threat of bankruptcy, but instead of being a grinch about his predicament, it seems Salim Mehajer would prefer to play Santa. Undeterred by staring down the financial strife and a string of court dates, the controversial property developer is planning a…
A recent ordinance introducing Section 29A in the Insolvency and Bankruptcy Code (IBC) debars promoters declared wilful defaulters of companies facing bankruptcy proceedings to bid for the stressed assets. This legal initiative has come not a day too soon. Clever operators who had stripped their companies and misused loans have been regaining control through legal…
LIFES never dull for controversial businessman and former Auburn deputy mayor Salim Mehajer. On top of facing a series of court battles over everything from his former relationship to his crumbling business empire, now he can reportedly add the threat of bankruptcy to the list. The 31-year-old is currently under virtual house arrest and facing…
Rewarding good work and recognising employees aspirations will drive performance and growth in the corporate world. The best example of this was set by the corporates in the U.S. in the post-Second World War era. Perhaps they went overboard and the after-effects are manifest now with income disparity becoming more acute. Practices such as huge…